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Contribution Details
Type | Master's Thesis |
Scope | Discipline-based scholarship |
Title | The rise of proxy advisors and their influence in shareholder meeting of Swiss companies |
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Institution | University of Zurich |
Faculty | Faculty of Economics, Business Administration and Information Technology |
Number of Pages | 73 |
Date | 2015 |
Abstract Text | Abstract In regards to companies listed within the SIX Swiss Exchange - Swiss Performance Index, a selfaggregated database containing the majority of agenda items and voting outcomes of the 2010 to 2014 general meeting season reveals that proxy advisor voting recommendations can be associated with an observed average disapproval rate of up to 20%. Associated observations coincide with retrieved holdings and stated voting guidelines of institutional shareholders, therefore strengthening causality. In the airs of the Minder-Initiative, the implementation of the Ordinance against Excessive Compensation has significantly augmented participation rates at shareholders’ meetings and increased the amount of respective ballot items. |
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